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USDJPY: low short-term shock pull up
2022-08-15
1213
Fundamental analysis:
The US dollar fluctuated around 133.474 against the Japanese yen. Japan's core consumer price index (CPI) in July may increase by 2.4% over the same period last year, the fastest growth rate in nearly eight years, and exceeded the Bank of Japan's inflation target of 2% for the fourth consecutive month.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of low-level bulls keeps moving up, moving up in short term or upward, the MACD index hovers at the lower side of the 0 axis, and the RSI index is in the weak consolidation near the 50 equilibrium line;
Long and short turning point: 133.155
Pressing position: 134.015, 134.478
Support position: 132.674, 132.092
Trading strategy: bullish above 133.155, target 134.015, 134.478
Alternative strategy: bearish below 133.155, target 132.674, 132.092
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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